cat/socially-responsible-finance
Nearly half (44.6%) of companies failed to protect payment card data on an ongoing basis. Despite the dangers, Verizon’s research shows that while PCI DSS compliance is improving, even among the companies that pass validation, nearly half fall out of compliance within a year—and many much sooner. This report delves into the detail of payment security and specifically PCI DSS compliance.
This survey was carried out on behalf of Hitachi Capital Invoice Finance (HCIF) and included individual responses from 502 companies in the U.K. Overall 67.13% of the companies surveyed have sought out external sources of financing in the past 12 months, although 35.06% of them will try to avoid borrowing money if at all possible.
Jessie Cheng is deputy general counsel at Ripple, a SME Finance Forum member, coauthors a Business Law Today article about the legality around payments for customers and businesses alike. The authors explain the legal framework for payments including the payment-system laws and customer-protection laws.
The People’s Bank of China wants fintech firms to pitch in on a government-controlled monitoring system to watch over financial transactions on the internet. Sun Gouofeng, director of general of the Bank’s research institute says it is unfair for taxpayers’ money to cover the costs arising from heightened regulation on fintech businesses. Making remarks at a conference, Gouofeng wants more of the major players in fintech to take the responsibility of funding its regulation.
Sub-Saharan Africa has played host to almost half of all mobile money deployments worldwide, as well as almost half of all countries where mobile money is available. Earlier this year GSMA published the decade edition of the State of the Industry Report on Mobile Money and a two-part blog series specifically focuses on Sub-Saharan Africa.
The tools demonstrate how consumers in the region are increasing use of mobile money and the financial inclusion that has come of it.
Former Head of Global Small Business at Visa, Janet Zablock has a new role as an Independent Board member at Nav Inc. Nav gives small businesses access to personal and business credit reports, cash flow analysis and lender-neutral marketplace that uses this data to connect them to the right financing for their situation.
The World Economic Forum released a white paper titled “Realizing the Potential of Blockchain: A Multistakeholder Approach to the Stewardship of Blockchain and Cryptocurrencies” last month, which provides a structured analytical framework and taxonomy. The intended use for the survey is for industry, technical, governmental, civil society and other stakeholders to consider how they might collaborate to resolve problems and unlock opportunities beyond the reach of any single actor.
Blockchain has the potential to impact many industries, including financial services, so the Boston Fed sought to understand its foundational technology with first-hand research. They wanted practical experience, the kind only trial and error can bring.
SME Finance Forum Immersion Program 2019:
Latin America’s Leading Event in Financial Services Innovation will have 500 attendees, 100 speakers and 40 exhibitors. Topics include digital banking, lending innovations, payments, investing and inclusive finance.
